Which Industries Qualify for the R&D Tax Credit?

Which Industries Qualify for the R&D Tax Credit?

One of the major barriers for companies claiming the Research & Development (R&D) Tax Credit is self-censorship. However, it can often come as a surprise when businesses learn just how many different industries are in fact eligible for R&D credits. Ultimately, these federal and state tax credits offer a viable opportunity to transform R&D expenses (developing new or improved products, processes or software) to valuable R&D tax credits.

Undeniably, a common misbelief surrounding the R&D tax credit is that only large corporations qualify and that it’s too complex to apply for. Although with recent changes to the R&D Tax credit, start-ups and small and medium-sized companies now have an unparalleled chance to profit from this lucrative credit.

In light of this, we’ve put together an infographic which indicates which industries qualify for the R&D Tax Credit below. Alternatively, you can download the PDF to print or save here: Qualifying Industries for the R&D Tax Credit.

Swanson Reed has a broad range of experience assisting a vast range of industries. Contact us today to learn more about the R&D Tax Credit and what your tax savings could be!

The path toward enhanced opportunities and economic growth in Mississippi’s private sector begins in secondary and elementary education, then continues through the workforce training abilities of the state’s astounding community college system and on to the Research and Development (R&D) prowess of the higher education system. [...]